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Jun 19 - 05:55 AM

USD/JPY - If USD/JPY Breaks Under The Cloud Base, Expect A Big Drop

By Martin Miller  —  Jun 19 - 03:40 AM
  • USD/JPY found solid support last week as the daily Ichimoku cloud

  • Daily cloud that spans the 106.45-107.09 region, halted the recent collapse

  • But spot subsequently failed to make headway above the 107.35 Fibo

  • 107.35 Fibo is a 23.6% retrace of the 109.85 to 106.58 drop

  • Scope grows for an eventual break under cloud, that would see a bigger drop

  • USD/JPY Trader TGM2336. Previous update nL1N2DV0A9

  • A strategy to insure against a second coronavirus wave nL1N2DV0DM

  • EUR/JPY has seen a 119.73-120.03 range, according to prices on the EBS

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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